REFILE-China shares jump as HK-Shanghai stock trading scheme set to start next week

SHANGHAI Nov 10 (Reuters) - China stocks rose on Monday
morning after regulators announced that the long-awaited pilot
programme allowing cross-border investment between the Shanghai
and Hong Kong stock markets will launch on November 17.

The CSI300 index rose 27.67671 points, or 1.11
percent, to 2,529.8297 in early trade, while the Shanghai
Composite Index gained 18.45701 points, or 0.76 percent,
to 2,436.628. The Hang Seng index added 524.61 points, or
2.23 percent, to 24,074.85.

Mainland indexes had seen surging volumes in the run-up to
the announcement, as investors poured money into long-neglected
financial stocks on mainland exchanges, expected to be the
primary recipients of investment from Hong Kong.

That helped push up the CSI300 financial services index
up over 10 percent since Oct 27, led by banks and
mainland brokerages.

The move has also helped close the valuation gap between
dual-listed companies, which are among the stocks eligible to be
traded under the pilot's regulations. The A-H share index
stood at 99.05 in morning trade, with 100
representing parity.